Sandur Manganese announces bonus shares: Iron ore manufacturer declares 5:1 bonus share issue

Sandur Manganese bonus share record date, Sandur Manganese bonus: The board of Sandur Manganese, at its 367th meeting held on Monday (December 18), announced the issue of bonus shares to the equity shareholders of the company in the ratio of 5:1.

In simpler terms, the company that is involved in mining low-phosphorous manganese and iron ore in the Hospet-Ballari region of Karnataka declared five new fully paid-up equity shares of Rs 10 each for every one existing fully paid-up equity shares of Rs 10 each held by the eligible shareholders as of the record date.

Sandur Manganese bonus record date

The record date will be determined by the board and intimated to the exchanges in due course upon obtaining the approval of the shareholders, as per the company's regulatory filing.

Simply put, bonus shares are extra shares of a company given to existing shareholders at no cost. Issuing bonus shares increases the total number of outstanding shares in the company, thereby enhancing liquidity in the market.

Sandur Manganese share price history

Sandur Manganese's stock has given a positive return of over 70 per cent in the last one month. In comparison, the headline index Nifty 50 has rallied nearly 9 per cent.

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.